KUALA LUMPUR (March 25): Sunway Bhd deputy managing director of the property division for Malaysia and Singapore Tan Wee Bee believes it is always a good time to buy property, even in the current property market slowdown.
“If you ask me, I will say it is always a good time to buy property. You shouldn’t wait to buy real estate, but buy real estate and wait,” said Tan in his presentation entitled “A challenging year: Buy now or wait” at The Edge Investment Forum on Real Estate 2017.
Tan said one needs to do his or her homework before buying a property and this includes finding out details on the property, location and value.
“When buying a property, look at the sustainability of the project, research on its concept, security, environment and maintenance. It is also important to study which developer is trustworthy enough to put your money on,” he shared.
Investors have to be prepared to commit to the property before making the purchase decision.
Tan also believes real estate remains one of the safest investment assets and is still in strong demand.
“Looking at the house price index since 2014, it has never seen negative growth because real estate values are holding up well,” he noted.
According to him, a buyer sentiment research had showed 58% of its respondents looking to buy a property in the first half of 2017.
“Besides that, today, approximately 4 billion people or just over 50% of the global population are urban. Do you know that by 2030, an estimated 5 billion people will be living in cities? And by 2050, 6.2 billion people will be living in cities?” Tan asked.
It is also estimated that within the next 35 years, cities will be home to 70% of the world’s population. This means that properties will continue to be in demand, especially as connectivity and accessibility continue to improve. Besides accessibility and connectivity, other key elements that buyers consider when buying a property are convenience, security and long-term sustainability.
The forum was organised by City & Country of The Edge Malaysia, presented by Sunway Property and supported by TheEdgeProperty.com.